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Advantages of Financing Your Bike Purchase

May 24, 2023 1380 Views 0 comment Print

While you may think that saving up to buy your bike may be better than taking on debt, there are a few reasons that make a bike loan a smarter choice.

SEBI proposes Review of Total Expense Ratio for Mutual Fund Schemes

May 24, 2023 1830 Views 0 comment Print

SEBI Consultation Paper on Review of Total Expense Ratio charged by Asset Management Companies (AMCs) to unitholders of schemes of Mutual Funds to facilitate greater transparency and accrual of benefits of economies of scale to investors The Securities and Exchange Board of India (SEBI) has released a consultation paper seeking public comments on the review […]

Generation & quoting of RFN on search/inspection communication/document

May 23, 2023 1689 Views 0 comment Print

Most of such documents have a system-generated unique identifier DIN (Document Identification Number)/ RFN (Reference Number). These documents, by virtue of being generated by the System, are already traceable in the portal, mostly on the taxpayer’s dashboard.

IRDAI cautioned Acko Insurance to Comply advertisement guideline

May 22, 2023 921 Views 0 comment Print

Insurer is cautioned to exercise care and diligence in releasing advertisements and not to quote features/benefits that are applicable under extreme/exceptional scenarios. Insurer is further directed to strictly comply in letter and spirit with the relevant IRDAI (Insurance Advertisements and Disclosure) Regulations

IFSCA Clarifies Due Date for Recognition of NPA in Factoring & Forfaiting 

May 22, 2023 582 Views 0 comment Print

 International Financial Services Centres Authority (IFSCA) Clarifies Due Date for Recognition of Non-Performing Assets (NPAs) in Factoring and Forfaiting Guidelines The International Financial Services Centres Authority (IFSCA) has issued a circular providing clarification on the guidelines for factoring and forfaiting of receivables. The clarification pertains to the due date for recognizing Non-Performing Assets (NPAs) as […]

Interest on delayed GST payment not payable on credit component

May 22, 2023 6705 Views 0 comment Print

Sri Priyanga Agencies Vs Assistant Commissioner of CGST & Central Excise (Madras High Court) In a case between Sri Priyanga Agencies and the Assistant Commissioner of CGST & Central Excise, the Madras High Court has issued a common order. The court has disposed of the main writ petition and two related Writ Miscellaneous Petitions (WMPs). […]

HC directs department to issue Section 148 notice to legal representative of Deceased Assessee

May 18, 2023 906 Views 0 comment Print

In the case of J. Kishorekumar Vs ITO, Madras High Court examines tax notices issued to deceased assessee’s legal representative, offering detailed insights into legal implications and proceedings.

Payment of Excess Managerial Remuneration – MCA imposes penalty

May 18, 2023 1683 Views 0 comment Print

Penalties for violating Section 197 of Companies Act as company paid managerial remuneration to a director exceeding requisite approvals

Company Secretaries in Practice can act as IPR/Trade Marks agent: ICSI

May 18, 2023 4191 Views 0 comment Print

Company Secretaries in Practice are allowed to be registered as Trade Marks Agent under Rule 144 of the Trade Marks Rules, 2017, read with the Company Secretaries Act, 1980 and the Regulations made thereunder.

No section 271B Penalty for not getting audited due to bonafide belief of non-applicability of Tax Audit

May 18, 2023 666 Views 0 comment Print

Admittedly, the assessee had got the books of account audited for the first time for the relevant assessment year. Prior to the relevant assessment year, the assessee was under the bonafide belief that only the gross commission receipts are to be taken as turnover for the purpose of audit.

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